(A) A borrower approached Cabalsi looking for an FHA 30-year fixed rate quote. Cabalsi was able to offer a more cost-effective option than FHA without mortgage insurance. A 5 percent down payment was required on a condo purchase of $517,000, and the buyers saved thousands of dollars.

Under normal circumstances, most lenders would not allow for a 5 percent down payment on "high-balance" conventional loans of more than $417,000. This exact rule also applies to condo purchases.

Usually a minimum 10 percent down payment is required in either scenario.

Not all lenders offer the same products and this is still a growing realization.

(B) A borrower approached Cabalsi looking for a quote on a JUMBO adjustable-rate-mortgage.

The borrower chose to work with Cabalsi because his loan didn't have "credit score adjusters" so the best interest rates were still available to the buyer despite credit scores in the low 700s.

Cabalsi's offer included a "purchase special" interest rate and origination fee waiver for purchase loans. The loan also features an attractive no-cost fixed-rate conversion option, which is valuable in mitigating the risk of an ARM and is extremely rare in the market.

According to a Fannie Mae National Housing Survey completed in January 2014, only higher income mortgage borrowers are likely to select a lender based on offer competitiveness.

Studies have shown that nearly half of all borrowers in the lower income groups receive only one mortgage quote prior to choosing their lender.

That's surprising, especially when you consider that a mortgage is a family's largest monthly expense, and people compare prices for everything else they buy.